Datacenter Lease vs Build

Capital Allocation Analysis

1What It Measures

Net Present Cost (NPC) comparison of leasing colocation capacity vs building a dedicated facility.

2Why It Matters

Building offers long-term control but requires massive upfront capex. Leasing offers speed and flexibility but higher opex.

3How to Read It

Compare the "Crossover Point" (where owning becomes cheaper) vs your capital horizon.

Key Metrics Explained
Avg Lease Rate
$180 - $350

kW/month (US Avg)

Build Cost
$9M - $12M

Per MW (Tier III)

Yield Threshold
8-10%

Target Cash on Cash

Quick Insights

Duration Impact: Leasing is typically favorable for <7 year horizons, while owning wins on 10+ year timelines.

Capital Efficiency: Leasing preserves capital for GPU hardware investment (which depreciates faster than real estate).

Inputs

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